News

Pubmaster man gets in the Spirit

JOHN SANDS, former boss of Pubmaster, the tenanted pub group, is hoping to run another pub estate.

He is believed to be among the bidders for a collection of 170 high-street pubs and bars put up for sale in April by Spirit Group for more than £200m. It is not clear who is backing Sands, who stepped down from Pubmaster after it was sold to Punch Taverns last year.

But he will face competition from a number of private- equity firms, including TDR Capital, best known for its ownership of Pizza Express. It is backing Ian Payne, previously the chief executive of the Laurel Pub Company.

The sale of the 170 sites is being handled by Deutsche Bank. It is one of a number of pub and bar businesses up for sale, including Barracuda, which is expected to fetch more than £250m, and the late-night bar business of nightclub operator